Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/68897
Authors: 
Siebert, Horst
Long, Ngo Van
Year of Publication: 
1984
Series/Report no.: 
Diskussionsbeiträge, Serie A: Volkswirtschaftliche Beiträge, Fakultät für Wirtschaftswissenschaften und Statistik, Universität Konstanz 190
Abstract: 
The paper introduces the concept of a firm's normal employment level as a weighted average of past employment levels and it analyzes the impact of an incentive scheme in which a firm receives a reward (or pays a penalty) when it deviates above (below) its normal employment level. The result is that such an institutional setting may imply a cyclical demand in labour. Thus, institutional arrangements may .be responsible for business cycles.
Document Type: 
Working Paper

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